Education-focused fintech startup EduFund has raised $6 million (INR 51.8 Cr) in a Series A funding round led by Cercano Management, with continued support from existing investor MassMutual Ventures. The funding will accelerate the company’s efforts in launching a customised planning engine designed to help Indian families manage their savings and education loans more effectively.
Founded in 2020 by Eela Dubey and Arindam Sengupta, EduFund offers a full-stack platform aimed at helping parents plan, save, and invest in their children’s education. The company currently claims to support over 250,000 families and has partnerships with more than 40 asset management companies and over 15 lending institutions.
With this fresh capital infusion, EduFund intends to expand its footprint in tier II and tier III cities across India. It also aims to bolster its education loan offerings, targeting middle-class Indian parents grappling with the rising costs of domestic and international education.
The startup’s platform allows users to invest in mutual funds, US ETFs, and digital gold through partnerships with top financial institutions such as HDFC Bank, Kotak Mahindra Bank, ICICI Bank, Navi, and other leading mutual fund houses.
“As education costs continue to climb globally, our mission is to empower families with the right financial tools and advice,” said cofounder Eela Dubey. “This Series A funding round is a strong validation of our vision and impact.”
Since its inception, EduFund has raised a total of $12 million, attracting backing from DSP Mutual Fund, CRED’s Kunal Shah, and Anchorage Capital Partners.
On the financial front, EduFund reported an operating revenue of INR 1.17 Cr in FY 2022–23, a massive 930% surge from INR 11 Lakh in FY22. However, losses widened to INR 4.04 Cr, up from INR 3.41 Cr in the previous year.
The funding boost comes amid a cautious investment climate in the edtech sector, which secured only $188 Mn across 15 deals in the first half of 2025, according to Inc42’s Indian Tech Startup Funding Report. Despite the overall slump, investors are placing their confidence in startups like EduFund that blend fintech innovation with education planning.
Earlier this year, another education-fintech startup, Leap Finance, secured a $100 Mn debt facility to support international education financing, highlighting a growing investor interest in targeted, tech-enabled educational finance solutions.
EduFund’s Series A round marks a strategic step toward enabling more Indian families to financially prepare for quality education through smarter, tech-driven investment and lending solutions.
